Agenda, decisions and minutes

None.

Councillors’ declarations of interest (if any) in relation to any items on the agenda.

None.

The Chair will move that the following item be taken in private session on the grounds that it is likely to involve the disclosure of exempt information as specified under Paragraph 3 of Part One of Schedule 12A of the Local Government Act 1972, if and so long as in all the circumstances of the case, the public interest in maintaining the exemption outweighs the public interest in disclosing the information.

Paragraph 3 – Information relating to the financial or business affairs of any particular person (including the authority holding that information).

RESOLVED that the following item be taken in private session on the grounds that it is likely to involve the disclosure of exempt information as specified under Paragraph 3 of Part One of Schedule 12A of the Local Government Act 1972, if and so long as in all the circumstances of the case, the public interest in maintaining the exemption outweighs the public interest in disclosing the information.

Paragraph 3 – Information relating to the financial or business affairs of

any particular person (including the authority holding that information).

RESOLVED that Cabinet recommended to Full Council that:

A     The acquisition of the property referred to in the report be approved for not more than the maximum amount shown in section 6 of the report on an unconditional basis to facilitate the Council’s regeneration strategy for Harlow town centre.

B     The procurement of legal, property, surveyor, valuation and specialist advisers to support full due diligence on the acquisition, and the associated fees payable as set out in the report, be approved.

C     The procurement, via the Crown Commercial Services framework, of Savills (as Property Manager) and Montagu Evans (as Asset Manager) be approved,

conditional upon the acquisition of the property, for an initial period of two years. The costs associated with the management services have been factored into the financial appraisal.

D     Authority is delegated to the Chief Executive to complete the purchase of the

property.

E     The financing for the purchase and associated costs as set out in the report is approved and that the Capital Programme, Capital Strategy and associated documents are amended to reflect this capital acquisition.

F     Authority is delegated to the Deputy Chief Executive and Director of Finance to make the final arrangements for the borrowing associated with the purchase.

Cabinet received a report on the acquisition of a town centre property and the approval of purchase, fees and procurement of managers.

Proposed by Councillor Dan Swords (seconded by Councillor James Leppard) it was:

   RESOLVED that Cabinet recommended to Full Council that:

A     The acquisition of the property referred to in the report be approved for not more than the maximum amount shown in section 6 of the report on an unconditional basis to facilitate the Council’s regeneration strategy for Harlow town centre.

B     The procurement of legal, property, surveyor, valuation and specialist advisers to support full due diligence on the acquisition, and the associated fees payable as set out in the report, be approved.

C     The procurement, via the Crown Commercial Services framework, of Savills (as Property Manager) and Montagu Evans (as Asset Manager) be approved,

conditional upon the acquisition of the property, for an initial period of two years. The costs associated with the management services have been factored into the financial appraisal.

D     Authority is delegated to the Chief Executive to complete the purchase of the

property.

E     The financing for the purchase and associated costs as set out in the report is approved and that the Capital Programme, Capital Strategy and associated documents are amended to reflect this capital acquisition.

F     Authority is delegated to the Deputy Chief Executive and Director of Finance to make the final arrangements for the borrowing associated with the purchase.

Such other business which, in the opinion of the Chair, should be received as a matter of urgency by reason of special circumstances to be specified in the minutes.

None.